Palm Beach Home Sales Trending
Now is the time to buy a home or condo in Palm Beach, FL. Prices are down and it is a buyer’s market. All home sales are down overall from the same time last year, but the market is starting to see an increase in sales activity over the past two quarters. The average price of Palm Beach real estate in 2009 is $811,000, down from the average price of $1.3 million for 2008. The median price for 2009 is also down from 2008 from $700,000 to $360,000.
New construction has doubled over the past quarter. The average price for new construction in 2009 is $937,000. The average price at this same time last year was $1.3 million.
Existing home sales activity is up from the last quarter in 2008 by 8 homes.
Single Family homes have seen a steady drop in sales activity over the past year from its high of 39 in mid 2008. The average price for single family homes has declined overall but is back on the rise going from $2,990,143 to $3,165,377 over the past few months. The median price for single family homes has increased from $2,850,000 to $3,539,240 over the past year.
Condominium sales activity has seen an increase of 18 sales from 2008 to 2009. Both the average and median price have seen a decrease in price from $893,090 to $500,455 and $425,000 to $307,000 from this same time last year. Condominium sales continue to be the leader in sales, having risen from 73% to 88% from 2007 to 2009.
Existing homes sales still dominate the market having 97% of the sales in 2009.
Palm Beach Home Sales Trending
Gives all the sales transactions over the years including the price, the year built, how many bed/baths, the square feet and the date it sold. Try it now.
Home Value Estimator
Gives the estimated value of a home for sale based on an analysis and comparison of recently sold homes in the neighborhood to the property. Also gives a list of homes sold in the area with the price, bed/bath, square foot and year they were built. Calculates the average price, median price, number of beds and baths and square foot of the area for the houses sold. Try it now.
Click Palm Beach Home Values for more information.
